What is a proof of claim?

A proof of claim is a form that a creditor files with the Court that sets forth the amount that a creditor believes they are owed by the company as of the date of the bankruptcy filing, if the amount that the creditor believes they are owed by the company differs from that on the Schedule of Assets and Liabilities.

What are the Schedules of Assets and Liabilities?

As part of the chapter 11 process, BlockFi was required to submit Schedules of Assets and Liabilities to the Court (the “SOAL” or “Schedules”). The SOAL includes Schedule F, which lists all of the unsecured claims that BlockFi believes clients, vendors, and other interested parties have against the estate.

How do I know if my claim is listed in BlockFi’s Schedules?

To protect BlockFi clients’ personal information, BlockFi requested and received interim Court approval to redact BlockFi’s clients’ names and other personally identifying information in the Schedules of Assets & Liabilities.

BlockFi’s claims agent, Kroll, has sent clients information regarding their individual claim information and instructions on how to file a proof of claim. You can check how BlockFi has listed your claim(s) in the Schedules in this package. Additionally, you can check how BlockFi has listed your claim(s) in the Schedules, as well as your BlockFi Wallet account balances, by visiting the website of our claims agent, Kroll, at the following link: https://restructuring.ra.kroll.com/blockfi/EPOC-Index.

Here is an example of what you will find on your personalized dashboard on the Kroll website, which will include all of your claim(s) and your BlockFi Wallet account balances. 

Did BlockFi schedule claims in dollars or in cryptocurrency?

Claims are scheduled in U.S. dollars. The dollar amounts listed on the Schedules are based on in‑kind coin values as of the platform pause on November 10, 2022, converted to USD using end of day pricing as of 11:59pm UTC on November 28, 2022, the day BlockFi filed chapter 11. Please refer to the table below for the prices as of 11:59pm UTC on November 28, 2022 that were used to convert your in-kind cryptocurrency into U.S. dollars, as shown in question 7b on the proof of claim form.

Please be advised that BlockFi Wallet account balances are represented as in-kind cryptocurrency as of the platform pause, rather than the amounts converted into U.S. dollars, since they were not included in the Schedules.

Who will I receive information from?

Clients will receive information regarding their schedule claim amounts from Kroll, BlockFi’s claims agent. Information regarding the proof of claim process will be sent to the email address associated with your BlockFi account and mailing address on file with BlockFi as of November 28, 2022, the Petition Date. Emails will be sent from BlockFiBankruptcyNoticing@noticing.ra.kroll.com. Please check your spam folder if you do not receive this email by February 14, 2023.

Which Customized Proof of Claim Form(s) did I receive?

• If you have one or more Interest-Bearing Account(s) and/or BlockFi Private Client Fixed or Open Loan(s), then you should have received an Interest Bearing Account Holder Proof of Claim Form.
• If you have posted Loan Collateral with BlockFi, then you should have received a Loan Account Holder Proof of Claim Form.
• A blank Wallet Account Holder Proof of Claim Form has been included in the packages for both Interest-Bearing Account(s) and Collateral for Loans to use as needed.

Clients can also download Proof of Claim Form(s) from the Kroll website.

Do I have to file a claim?

If you agree with BlockFi’s Schedules as filed, you do not need to complete and submit a proof of claim form, and no further action is required. If you disagree with the information as scheduled, you will need to submit proof of claim.

What is the bar date (or deadline) to submit a proof of claim?

The bar date, or deadline to submit a proof of claim, is 5:00 P.M. (prevailing Eastern Time) on March 31, 2023. The bar date applies to all BlockFi clients.

Where can I look up my scheduled claim information and BlockFi Wallet account balance?

Clients can check how BlockFi listed your claim(s) in the Schedules for BlockFi Interest Account, BlockFi Private Client, and Loans, as well as your BlockFi Wallet account balances, by visiting the website of our claims agent, Kroll,here.

How do I access my BlockFi account statements to find my account ID?

In order to locate your account ID, please follow these steps on the BlockFi website. You cannot download reports from the BlockFi app.

1. Login to your BlockFi account:https://app.blockfi.com/signin.
2. Go to the top right corner, click the arrow, and select “Reports.”
3. Select “2022” from the “Earnings Statements” drop down and download your October 2022 Earnings Statement.
4. Your Account ID is an 8 character alpha-numeric code and can be found at the top left of the statement.

Why weren’t BlockFi Wallet account balances included in the Schedules?

As explained in our Wallet Motionblog, it is our belief that clients unambiguously own the digital assets in their BlockFi Wallet accounts. Accordingly, BlockFi did not include Wallet account balances on the Schedules. Clients do not need to submit a proof of claim for if they agree with their Wallet account balance(s). You can look up your Wallet account balance as of the platform pause on November 10, 2022 at 8:15pm (prevailing Eastern Time)here.

Did clients receive interest to their BIA account for the month of November?

BIA Interest accrued in November is listed on Schedule F as part of the scheduled amount owed to clients. The interest calculation is based on balances at the time of the platform pause on November 10, 2022 and accrued from November 1 to November 28, 2022, the day BlockFi filed for chapter 11.

How do I file a claim, if needed?

BlockFi’s claims agent, Kroll, has sent clients information regarding their individual claim(s) and instructions on how to file proof of claim forms. Communications from Kroll have been sent to the email address associated with clients’ BlockFi accounts and via physical mail to clients with an address on file.

Clients can find detailed instructions on how to fill out their proof of claim form here by clicking the Client Guide to Filling Out Proof Of Claim Form(s).

How will I know my proof of claim has been received?

If you choose to submit your form online, you will receive a confirmation email with a reference number for your proof of claim. If you choose to mail your proof of claim, you will need to submit two copies with a self-addressed and stamped return envelope to receive confirmation of receipt.

How do I know if BlockFi has the right contact information for me?

BlockFi provided its claims agent, Kroll, with clients’ addresses and emails as of the Petition Date, November 28, 2022. If your address or email has since changed, or if you would like to confirm that your account details are accurate, please contact Kroll directly to update your information. Clients may contact Kroll at (888) 773-0375 (Toll Free) or (646) 440-4371 (International).

Who do I contact if I have additional questions?

We understand that you may have questions during this process. Additional information regarding BlockFi’s chapter 11 proceedings, including the proof of claim process, can be found by visiting the website for BlockFi’s claims agent, Kroll, at https://restructuring.ra.kroll.com/blockfi. Clients may contact Kroll at (888) 773-0375 (Toll Free) or (646) 440-4371 (International), or email blockfiinfo@ra.kroll.com.

Please find below a table of cryptocurrency prices as of 11:59pm UTC on November 28, 2022 that were used to convert your in-kind cryptocurrency into U.S. dollars, as shown in question 7b on the proof of claim form.

Last updated on February 14th, 2023